Economy Of Uzbekistan
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General Overview :: Economy Of Uzbekistan
The government working closely with IMF has made considerable progress in reducing inflation and the budget deficit. The national currency was made convertible in 2003 as part of the IMF-engineered stabilization program, although some administrative restrictions remain. Agriculture and manufacturing industries contribute equally to the economy, each accounting for about one-quarter of GDP. Uzbekistan is a major producer and exporter of cotton, although the importance of this commodity has declined significantly since independence. Uzbekistan is also a major producer of gold with the largest open-pit gold mine in the world and has substantial deposits of copper, strategic minerals, gas, and oil. This is a chart of trend of gross domestic product of Uzbekistan in constant prices of 1995 estimated by the International Monetary Fund with figures in millions of som. The chart also shows the consumer price index as a measure of inflation from the same source and the end-of-year U.S. dollar exchange rate from the Central Bank of Uzbekistan database. For purchasing power parity comparisons in 2006, the U.S. dollar is exchanged at 340 som.
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